Alhambra Investment Management LLC Grows Stake in Sony Group Co. (NYSE:SONY)

Alhambra Investment Management LLC increased its stake in Sony Group Co. (NYSE:SONY) by 360.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,985 shares of the company’s stock after purchasing an additional 31,295 shares during the quarter. Alhambra Investment Management LLC’s holdings in Sony Group were worth $846,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group grew its stake in shares of Sony Group by 14,571.4% during the fourth quarter. Brooklyn Investment Group now owns 3,081 shares of the company’s stock valued at $65,000 after acquiring an additional 3,060 shares in the last quarter. Somerset Trust Co increased its holdings in Sony Group by 433.8% during the 4th quarter. Somerset Trust Co now owns 11,957 shares of the company’s stock worth $253,000 after purchasing an additional 9,717 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC raised its position in shares of Sony Group by 345.6% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 2,901 shares of the company’s stock valued at $61,000 after purchasing an additional 2,250 shares in the last quarter. Boston Common Asset Management LLC boosted its stake in shares of Sony Group by 362.3% during the 4th quarter. Boston Common Asset Management LLC now owns 228,961 shares of the company’s stock valued at $4,845,000 after buying an additional 179,438 shares during the last quarter. Finally, Procyon Advisors LLC grew its position in shares of Sony Group by 411.0% during the fourth quarter. Procyon Advisors LLC now owns 37,734 shares of the company’s stock worth $798,000 after buying an additional 30,350 shares in the last quarter. 14.05% of the stock is currently owned by hedge funds and other institutional investors.

Sony Group Stock Up 1.5 %

NYSE:SONY opened at $20.64 on Friday. The stock has a 50 day moving average of $20.45 and a 200-day moving average of $12.56. The firm has a market capitalization of $124.79 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 12.41 and a beta of 0.95. The company has a current ratio of 0.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.25. Sony Group Co. has a 52 week low of $15.02 and a 52 week high of $22.71.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SONY shares. TD Cowen reduced their price objective on shares of Sony Group from $107.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Sanford C. Bernstein started coverage on Sony Group in a research note on Thursday. They issued an “outperform” rating for the company. Oppenheimer cut their price objective on Sony Group from $108.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com downgraded Sony Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Sony Group has an average rating of “Buy” and an average target price of $24.00.

Sony Group Company Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.